'BBC juggernaut is out of control': Greedy broadcaster drives out rivals, MPs told

The BBC is an 'out-of-control juggernaut' which is damaging competition in the media, MPs have been told.

Critics described the publicly-funded broadcaster as 'smug' and said it was in danger of driving many rivals out of business.

They complained that its commercial arm, BBC Worldwide, had made 'quantum leaps' into areas not connected to its core operations.

BBC Worldwide unveiled record profits of £117.7million in its annual review, published this summer, up 17 per cent on the previous year.

The BBC receives £3.5billion a year in licence fee money.

Critics singled out the corporation's involvement in launching Indian versions of Hello and Grazia magazines, and the decision to buy a 75 per cent stake in travel publisher Lonely Planet for an estimated £89.9million.

The BBC intends to launch the Lonely Planet brand as a monthly magazine.

Yesterday, giving evidence to the culture, media and sport committee at the House of Commons, the editor-in-chief of independent travel magazine Wanderlust accused the BBC of deliberately targeting her title.

Lyn Hughes claimed the new Lonely Planet publication would be launched on the same day Wanderlust celebrates its 100th issue.

She said: 'BBC Worldwide seems to be an out-of-control juggernaut at the moment.

'I would question why any travel magazine would be launching at this time. Our advertisers are finding it tough.

'I can only think that it's because they are smug, and have got deep pockets.'

She added that BBC Magazines is the third-biggest magazine publisher in the country.